Strong pipeline delivers results for infrastucture specialist
Sheffield-headquartered Fulcrum, an independent multi-utility infrastructure and services provider, has maximised a strong pipeline of opportunities to deliver a jump in its financial performance.
Fulcrum increased revenues by nearly £10m, to £29.2m in the six months to September. Pre-tax profits rose by 14% to £4.2m as it expanded into new markets including electric vehicle charging and smart metering.
The results have benefitted from the integration of Dunamis and CDS Pipe Services, which were acquired by Fulcrum earlier this year.
Taking out their impact, Fulcrum grew its like-for-like revenues by 13%, which it achieved through the strong performance of the group’s operations for the installation of gas and electricity infrastructure and its utility asset ownership business.
Martin Harrison, chief executive of Fulcrum, said: “These results reflect the continued successful delivery of the group’s long-term strategy and our commitment to meeting customer demand across each of our routes to market across mainland UK.
“We believe we are well positioned to deliver further high quality, sustainable growth.”
The group, which employs 280 people, has also strengthened its order book to the value of £45.8m.
The board has recommended an interim dividend of 0.75 pence per share.
